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March 11, 2025 - The David Knight Show
12:39
Bitcoin Reserve is a Government-Sponsored Ponzi Scheme
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on friday he signed an executive order that not only set up a strategic bitcoin reserve but also the digital asset stockpile Well.
And that's where he's sticking these coins that everybody was scratching their head about, saying these are coins that are set up for transactions.
This looks like you're setting up some kind of public-private partnership to do FedNow.
Remember, all of the plans, and every country pretty much on Earth had plans to go to CBDC. And it was a two-step process.
First, you do the wholesale, then you do the retail.
When I mean wholesale, I mean setting up a digital exchange format for banks and corporations to transfer money.
Between themselves.
And then the retail version was what we actually call CBDC. So in the U.S., it was going to be FedNow.
They already set that up.
They started doing trials with the banks so they could move money around.
And then FedCoin was going to be the actual CBDC. Now they've decided that they want to rebrand it and pivot this to something that's slightly different.
But again, when you look at these coins that were there.
Ripple and the others, it looked like they were doing FedNow.
And everybody's like, what is going on with this?
So, White House AI and cryptozar David Sachs said in a post on Friday when they met for this, he said, we're going to be using, initially, cryptocurrency that was forfeited in government criminal cases.
Forfeited as part of criminal or civil asset forfeiture proceedings.
You know, that's all civil asset forfeiture.
Anyway, the U.S. digital asset stockpile, which Sachs said would be made up of cryptocurrencies other than Bitcoin.
He said Bitcoin Reserve was a, quote, digital Fort Knox for cryptocurrency.
Mm-hmm.
Yeah.
And as Catherine Austin Fitz said, this whole thing is pump and dump.
It's a Ponzi scheme.
And what happens with the Ponzi scheme?
You keep making money until the last person gets in.
Well, who's going to be the last person, the last sucker holding the bag with all this stuff?
Well, the taxpayer.
They want the government to come in and to buy up everything, to bail them out so they can sell off at the top on their Ponzi scheme.
That's what this is.
And it's especially true that, you know, I don't see anything magic about Bitcoin.
I think all this stuff is a Ponzi scheme.
But especially when you bring in all these other cryptocurrencies, it becomes pretty obvious exactly what it is.
That is what it is.
It is a Ponzi scheme.
It is a pump-and-dump scheme from Trump.
Sachs says its purpose is, quote, responsible stewardship of the government's digital assets under the Treasury Department.
He added that the government wouldn't buy additional cryptocurrencies for the stockpile beyond those obtained through forfeiture proceedings.
Well, that raises a question.
Because he's saying that this is the, you know, they've stolen a lot of Bitcoin and Ethereum and everything.
But, you know, when you're talking about the digital assets stockpile, these are the things, the Ripple, you know, XRP, Solana, SOL, Cardano, ADA, these things are really pretty new.
And they don't have any of this stuff.
I looked at this and said, have they actually forfeited any of this stuff?
Well, actually, somebody else looked at it.
Arkham Intelligence looked at it.
And they said the U.S. government doesn't hold any of these three currencies that Trump was so excited about.
So, they're going to be buying them.
So, that means that David Sachs, the crypto czar, is actually lying to you.
It just doesn't add up.
I mean, it's like all of the stuff that the government says all the time.
All the stuff with the bird flu and the measles and the vaccines and the rest of the stuff.
It just doesn't add up.
Well, we're not going to be buying any of this stuff.
It's going to be coming from forfeited assets.
Well, you don't have any forfeited assets of Ripple or SOL or ADA. You don't have any of that.
If you're going to put that in there, you're going to have to buy it.
Duh.
Anyway, they do...
It doesn't hold any of that.
The government has $18 billion worth of crypto under its control right now.
Almost all of that is Bitcoin.
There's $119 million worth of Ethereum, but they have $122 million worth of Tether, the stablecoin.
Now, when you look at Tether, think Lucky Lutnik.
Howard Lutnick and his company, Cantor Fitzgerald, they've been at the center of a partnership with Tether.
And going back to 2021, they were basically the...
So Tether is tied to the U.S. dollar, and they tie that by getting U.S. treasuries.
And so Cantor Fitzgerald and Howard Lutnick were the custodians.
For the treasury securities that was the basis for Tether.
And they also have a 5% stake in Tether.
And so really they are the custodian.
They're the investor in Tether.
They are a strategic partner.
They have a massive financial stake in Tether.
And they are an advocate for Tether.
And this guy is now the Commerce Secretary.
So the government owns.
Ethereum owns Tether.
Tether has not been mentioned in any of this stuff.
Ethereum and Bitcoin were, and they do own a little bit of Ethereum, and they own $18 billion worth of Bitcoin.
However, these other three cryptos that everybody was scratching their head about, they don't own any of that stuff.
And again, the crypto czar, David Sachs, says, well, we're not going to buy any of this stuff.
This is stuff that's already owned by the guy.
Well, he's absolutely lying about it.
The gold, or vice versa, actually.
Michael Saylor is out there pushing U.S. government to purchase up to 25% of the Bitcoin supply by 2035, when 99% of all Bitcoin will have been issued.
By 10 years, 99% of all of it will have been issued.
And he says that the government should never sell Bitcoin.
See, how can that be a profitable thing for the government if it never sells it?
It's a profitable thing for the people like him who buy into it if the government doesn't sell it.
The government keeps a floor on all of this stuff.
He explained that the government should stick to a, quote, never sell your Bitcoin, unquote, policy, predicting that by 2045, the Strategic Bitcoin Reserve could generate $10 trillion annually and serve as a, quote, perpetual source of prosperity, unquote, for Americans.
Beware of people who are selling you perpetual motion machines or perpetual prosperity machines.
And I... Don't understand how, if you don't sell this, how is it going to provide $10 trillion annually if you don't sell it?
Don't you have to sell it?
I mean, you know, you got paper gains or whatever, but you have to realize those gains by selling it.
That absolutely makes no sense at all to me, if you understand it.
Give me a comment if you can interpret that lie for me.
I think it's just a flood-out lie.
It says the reserve could generate between $16 trillion and $81 trillion for the U.S. Treasury, potentially easing the national debt.
I don't think that's the case at all.
Again, I go back to Catherine Austin Fitz.
I think she got it exactly right.
She says it's a pump and dump.
And they want the taxpayer to be left holding the bag.
And when the bag explodes and there's nothing in it...
Then what they do is they come after the physical, natural assets.
And that's what Doug Burgum, Howard Lutnik, Scott Besant are looking at, I believe.
And she thinks so, too.
So, you know, it's a pump and dump.
It's a Ponzi scheme.
It goes bust.
They take all the land.
Because they've said, hey, we've got enough land.
If we sell this land off, we've got $200 trillion, said Doug Burgum.
I think that's where this is headed.
If the U.S. government acquired 25% of Bitcoin's total supply, it would hold 5.25 million Bitcoin, far more than the 1 million Bitcoin that Wyoming Senator Cynthia Loomis proposed in her Bitcoin Act that she introduced in July of last year.
Gold isn't just another asset.
It's real.
It's tangible.
It is wealth that has stood the test of time.
While governments manipulate fiat currency, and while crypto markets are swinging wildly, gold remains the one constant in an uncertain world.
Stability in a digital age, Bitcoin is now prone to price swings, regulatory crackdowns, and exchange failures.
They didn't mention the fact that it is also a target for every hustler on earth.
Everybody.
Anyone who is clever.
I don't like those odds.
There's smarter people than me out there, especially when it comes to protecting Bitcoin.
So I don't like that.
Gold doesn't disappear in a hack.
It doesn't get frozen in a government wallet.
It doesn't rely on a blockchain to exist.
Also, gold is a hedge against inflation and debt.
The U.S. national debt is now north of $36 trillion.
With over $1 trillion in annual interest payments, inflation is creeping back, and even with rate cuts on the horizon, the purchasing power of fiat currency is eroding.
Gold is the asset that investors turn to when they want something that won't be debased.
And it's what central banks turn to, because they know what's going on.
While the U.S. considers crypto reserves, central banks everywhere else in the world are hoarding gold.
What does that tell us about Trump and his corrupt This Trump administration folks, like I've said before, they're a bunch of robber barons with one R. It's just like the railroad robber barons of the late 1800s.
That's what these guys are like.
For the third straight year, over 1,000 metric tons of gold have been added to national stockpiles in China, India, Poland, leading the charge ensuring that they will hold real wealth and not digital speculation.
That's it.
Trump's pump and dump.
Gold or crypto?
What do you trust?
So, again, go to davidknight.gold and I'll take you to Tony Arterbin and you can start to do something for yourself.
There's only so much, you know, we can talk sense to these people, but look, if they're corrupt and they know what they're doing, they don't care.
And that's really the reality.
You can reason with them, you can plead with them, but you're going to have to take care of this stuff yourself.
Hello, it's me, Volodymyr Zelensky.
I'm so tired of wearing these same t-shirts everywhere for years.
You'd think with all the billions I've skimmed off America, I could dress better.
And I could, if only David Knight would send me one of his beautiful grey MacGuffin hoodies or a new black t-shirt with the MacGuffin logo in blue.
But he told me to get lost.
Maybe one of you American suckers can buy me some at thedavidknightshow.com.
And David is giving a 10% discount to listeners from now until 2025. At that price, you should be able to buy me several hundred.
Those amazing sand-colored microphone hoodies are so beautiful.
I'd wear something other than green military cosplay to my various galas and social events.
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